Q3 2016 Earnings Forecast for Rogers Communication Inc. (RCI) Issued By National Bank Financial
Rogers Communication Inc. (NYSE:RCI) – Analysts at National Bank Financial issued their Q3 2016 earnings estimates for Rogers Communication in a note issued to investors on Thursday. National Bank Financial analyst A. Shine expects that the brokerage will post earnings of $0.68 per share for the quarter. National Bank Financial also issued estimates for Rogers Communication’s FY2016 earnings at $2.20 EPS and FY2017 earnings at $2.33 EPS.
Several other equities analysts have also issued reports on the company. Bank of America Corp. initiated coverage on Rogers Communication in a research report on Tuesday, July 5th. They set a “neutral” rating on the stock. Canaccord Genuity restated a “hold” rating on shares of Rogers Communication in a research report on Friday, June 17th. Zacks Investment Research upgraded Rogers Communication from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 27th. TheStreet upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Finally, Scotiabank restated an “outperform” rating and set a $56.00 price target on shares of Rogers Communication in a research report on Wednesday, June 15th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of C$49.56.
Rogers Communication (NYSE:RCI) opened at 40.79 on Monday. Rogers Communication has a 52 week low of $32.50 and a 52 week high of $45.50. The firm has a 50-day moving average price of $42.70 and a 200 day moving average price of $40.82. The firm has a market capitalization of $21.00 billion, a price-to-earnings ratio of 19.71 and a beta of 0.87.
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Rogers Communication (NYSE:RCI) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. Rogers Communication had a return on equity of 24.94% and a net margin of 10.42%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Sunday, September 11th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This is a positive change from Rogers Communication’s previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a dividend yield of 4.71%. Rogers Communication’s payout ratio is currently 71.36%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of Rogers Communication by 11.8% in the first quarter. Royal Bank of Canada now owns 36,359,454 shares of the company’s stock worth $1,455,104,000 after buying an additional 3,848,069 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its position in shares of Rogers Communication by 4.8% in the second quarter. Beutel Goodman & Co Ltd. now owns 23,399,933 shares of the company’s stock worth $940,746,000 after buying an additional 1,077,355 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Rogers Communication by 1.7% in the second quarter. TD Asset Management Inc. now owns 14,736,144 shares of the company’s stock worth $593,389,000 after buying an additional 242,250 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of Rogers Communication by 21.8% in the second quarter. 1832 Asset Management L.P. now owns 10,748,669 shares of the company’s stock worth $683,889,000 after buying an additional 1,922,300 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Rogers Communication by 12.0% in the second quarter. Vanguard Group Inc. now owns 6,954,480 shares of the company’s stock worth $280,960,000 after buying an additional 747,064 shares during the last quarter. Institutional investors and hedge funds own 49.28% of the company’s stock.
About Rogers Communication
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet and telephony services to consumers and businesses. The Company operates through four segments: Wireless, Cable, Business Solutions and Media. Its Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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